The Cashmere Fund advisor Elia Infascelli joined Ritholtz Wealth Management's Animal Spirits podcast to share our vision for making VC more accessible to more investors. Here are the highlights:

From Hollywood to Venture Capital: Elia’s Unconventional Journey

Elia’s path to venture capital wasn’t the traditional route through Wall Street or Silicon Valley. Instead, it began in Hollywood, where he spent over a decade as an agent at Endeavor. During this time, he saw how celebrities could leverage their social media influence to connect directly with audiences. This sparked his interest in building ventures that allowed influencers to own their brands rather than merely endorse products.

“I realized I didn’t want to be an agent anymore,” Elia said. “I wanted to build things with influential people who had a direct line to consumers.” That realization led him to collaborate with high-profile talents like Dwayne Johnson and eventually transition to investing full-time. Today, this ethos of combining influence and investment underpins the Cashmere Fund.

Breaking Barriers: Democratizing Venture Capital

The Cashmere Fund aims to solve a major problem: access. Historically, venture capital has been an exclusive club, requiring large checks and accredited investor status. As Elia explained, “Roughly 99% of Americans haven’t had access to venture capital because of accreditation requirements and high minimums.” Cashmere Fund changes that.

By structuring itself as an interval fund under the 1940 and 1933 Acts, The Cashmere Fund opens venture capital to retail investors with a low minimum investment of $500. The fund’s evergreen model also provides liquidity through biannual redemption windows. “We’ve built a system where you can invest and track your portfolio daily,” said Elia. This structure is a game-changer for individuals looking to diversify their investments.

The Role of Influence: Leveraging Star Power

Cashmere Fund’s unique approach combines financial capital with what Elia calls “compound influence.” The fund invests in consumer brands where influencers, athletes, and entertainers can play a meaningful role. “We’re not just looking for famous names; we’re looking for authentic passion,” he explained.

This strategy goes beyond flashy endorsements. For example, Elia highlighted Katy Perry’s involvement with her sparkling wine brand, De Soi, which is a portfolio company within The Cashmere Fund. Selena Gomez’s Rare Beauty brand (not in the fund) is another example of the power of compound influence. “When someone genuinely believes in a product and gives it their all, it’s a win-win for everyone involved,” Elia said. This focus on authenticity helps Cashmere differentiate between potential long-term successes and short-term cash grabs.

Building a Community of Investors

At the heart of Cashmere Fund’s model is its emphasis on creating a community of retail investors who feel part of something bigger. With over 5,000 investors already on board, the fund sees its members as more than just capital providers—they’re brand ambassadors.

“It’s not just about writing checks,” Elia said. “We want our investors to feel engaged and connected to the brands they’re helping grow.” Cashmere accomplishes this by providing regular updates, including monthly newsletters and quarterly reports. Transparency is a priority; every investor can see detailed information about the portfolio’s performance as part of annual and semi-annual reports available on the fund’s website.

The Road Ahead: Scaling with Omnichannel Growth

Looking to 2025, Cashmere Fund plans to expand its reach beyond its direct-to-consumer (DTC) roots. Partnerships with major brokerages will help the fund scale its investor base and distribution capabilities. “Think of it like a consumer brand,” Elia said. “You start DTC to build loyalty, but at some point, you’re thinking about how to get into Target or Walmart.”

The fund’s growth strategy also includes diversifying its portfolio. While consumer brands currently make up 40% of their investments, Cashmere is expanding into healthcare, B2B SaaS, and other sectors. The goal is to provide retail investors with broad exposure to venture capital, tracking the performance of the asset class as a whole.

A New Era of Venture Capital

Cashmere Fund’s mission to make venture capital accessible and engaging is reshaping the industry. By lowering barriers to entry and leveraging the power of influence, the fund is creating opportunities for everyday investors to participate in an asset class that has historically been out of reach. As Elia summed it up, “We want to give people the chance to invest in the future, no matter their starting point.”